GST Council to meet on June 22: Key industry expectations

The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on June 22.

The meeting agenda has not yet been distributed but State Finance Ministers are expected to present suggestions for the indirect tax regime that could be incorporated into the Union Budget, likely to be presented next month.

According to the Hindu report, industry observers will be watching for signals from the Council on reviving plans to restructure the complex multiple-rate tax system, as GST revenues have increased significantly.

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Additionally, there is anticipation regarding a promised review of the 28% tax on bets made in online gaming, casinos, and horse racing.This will be the first Council meeting since the Lok Sabha elections.

The election results were declared on June 4, and Sitharaman was sworn in as a Cabinet minister in the new Modi Government on June 9.

The previous GST Council meeting, held on October 7, 2023, decided to impose a 28% levy on online gaming, casinos, and horse racing.